Tax News
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Click on links at left to find tax code changes, and helpful tips.

  • Withholding update for Arizona residents.  Click on Individual Tax link at left.
  • Social Security COLA for 2024 announced: Increase is 3.2%
  • Income ceiling for S.S. OASDI tax is $168,600 in 2024.
  • All income is taxed for the Medicare portion of Social Security.
  • Rates 2024: OASDI is 6.2 % / Medicare is 1.45% for individuals.  Self employed persons pay OASDI of 12.4% and Medicare of 2.9% . 
  • The full Medicare Prem. Part B is $174.70 per month in 2024. High income earners pay more.

 

 

 

 

Please be advised that all tax advice or information on this site is for instructional purposes only.  While we strive to keep all data current, it's virtually impossible to keep up with the constant changes in the Internal Revenue Code.  Always check with your tax advisor before making critical tax decisions.